Marathon Oil has selected a governance, risk and compliance (GRC) solution from New York-based BWise to ensure regulatory compliance reduce costs. Marathon was seeking a solution to merge multiple compliance initiatives into a standard, transparent process. BWise tracks business and compliance processes and tests and reports on enterprise-wide controls and risks. Anne Hunt, Marathon’s director of IT compliance said, ‘Our objective was one Marathon compliance process, utilizing an enterprise tool to inventory controls, test their effectiveness, remediate issues, and report to management.’
BWise is addressing the convergence of disparate GRC solutions by integrating risk management and compliance initiatives into a single framework. In a converged solution, a control is tested once and used many times for different regulatory reports and risks of diverse provenance can be roll-up rationally. BWise documents business processes at all levels, from strategic to transactional—along with risks and controls. BWise handles Sarbanes-Oxley, Solvency II, Basel II, MiFID, PCI, GLBA, NAIC MAR, HIPAA and others. More from www.bwise.com.
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